From BigGo Finance · BigGo Finance · · 1m 20s
China's Sanxia New Material Surges on Trading Resumption
Sanxia New Material's shares hit daily limit after major restructuring plan to enter lithium battery sector.
In brief
Sanxia New Material's shares hit daily limit after major restructuring plan to enter lithium battery sector. Sanxia New Material's shares surged to 4.32 yuan per share after resuming trading on October 20 following a major asset restructuring plan to acquire Zhuhai Saiwei, a lithium battery electrolyte producer…
Sanxia New Material resumes trading
Sanxia New Material (600293.SS) resumed trading on October 20 and immediately hit its daily limit.
3.58 million lots sealed
Sealed buy orders exceeded 3.58 million lots at the limit-up price during the session.
Major Asset Restructuring plan
Company disclosed plan to acquire 100% of Zhuhai Saiwei via share issuance and cash payment.
CNY 1 billion fundraising
Company raised up to CNY 1 billion (approximately $149.7 million) from no more than 35 investors.
Zhuhai Saiwei's business
Zhuhai Saiwei produces lithium-ion battery electrolyte and new membrane materials.
Zhuhai Saiwei's financials
Zhuhai Saiwei reported CNY 2.528 billion revenue and CNY 75.0667 million net profit in first eight months of 2026.
Sanxia New Material's performance
Sanxia New Material's first-half revenue fell 37.35% year-on-year with CNY 80.37 million loss.
Dual business structure
Deal creates dual-main-business structure of traditional building materials and new energy materials.
Here's the gist
Sanxia New Material's shares surged to 4.32 yuan per share after resuming trading on October 20 following a major asset restructuring plan to acquire Zhuhai Saiwei, a lithium battery electrolyte producer.
